To this end, Barclays Stockbrokers Nigeria Limited has been renamed Absa Securities Nigeria Limited, while Barclays Securities Nigeria Limited is now known as Absa Capital Markets Nigeria Limited. The change comes after parent company, Barclays Africa Group, was rechristened, Absa Group, in July 2018, as part of its separation from UK-headquartered, Barclays PLC, thereby allowing it to embark on a new era as a standalone African banking group with global scalability. Part of the Absa Group’s separation agreement with Barclays PLC was to remove the Barclays brand from all assets by mid-2020 at the latest. “Nigeria is one of the first countries outside of South Africa to change to the Absa brand, and we are excited to break new ground under our new brand. Other Barclays-branded assets in other markets across the continent will change to Absa at a later date still to be announced.

Source: The Guardian July 05, 2019 03:45 UTC